Latest news with #DowntownDenverPartnership
Axios
5 days ago
- Business
- Axios
Denver falls behind big cities in return-to-office push
While major U.S. cities are seeing a post-pandemic surge in office returns, Denver is clinging to its work-from-home ways, a new analysis shows. Why it matters: Predictions that the pandemic would permanently alter the city and the way Denverites work are proving correct. By the numbers: July office visits in Denver were down 40% from July 2019, per which tracks foot traffic at 1,000 commercial office buildings with ground-floor retail nationwide. That's nearly double the national average decline of 22% and in stark contrast to cities like New York, where visits now surpass pre-pandemic levels. State of play: Denver saw average weekday employees downtown in June fall 39% from 2019, according to the Downtown Denver Partnership. Meanwhile, office vacancy rates in the city's core climbed to 37% in the second quarter, data from commercial real estate firm CBRE shows. What they're saying: points to Denver's role as "an emerging hub for tech startups" and "one of the most remote-friendly labor markets in the U.S." as reasons why employees are not returning to the office as quickly as other cities. Yes, but: That same dynamic is a pain point for Mayor Mike Johnston, who's banking on a downtown "revitalization" to reverse pandemic-era declines. A "core part" of his strategy, Johnston's spokesperson Jordan Fuja tells Axios Denver, "is expanding housing, retail, and activation events downtown to bring people in to work and to create a true neighborhood that doesn't solely rely on an ever-changing workforce."
Axios
01-06-2025
- Business
- Axios
16th Street's reopening offers hope for downtown's future
The heart of downtown Denver is beating again — even if only temporarily — after the pandemic brought it to a standstill. The latest: A rebranded 16th Street reopened over the weekend with more than 70 vendors, bold new art installations, a World Cup climbing competition — and, most critically, crowds. Hundreds of people strolled the redesigned mile-long strip, some for the first time in years. The kickoff marked the public debut of a years-long, nearly complete $175.4 million renovation aimed at resuscitating the city's iconic corridor. Why it matters: Downtown's fate is tied to Denver's identity — and its economy. State of play: For a few days at least, optimism was in the air. "This is probably at least five times as many people as you would expect normally on a Saturday," Eric George, a Denver native who works downtown, told us. It feels like 16th Street "is on the cusp," he said, of a "vibrant" new chapter. LoHi resident Kassie Aragon — who's steered clear of 16th Street for years — called it "not-so-gloomy, really lively, young, and up-and-coming." If it stays like this, she said, "I probably will walk a lot more through here." Yes, but: The real challenge starts now to keep the energy alive beyond the fanfare. Despite falling crime rates, safety concerns on 16th Street linger. Weekday foot traffic is still down, hovering at 71%, according to the Downtown Denver Partnership. CBRE data shows downtown office vacancies have jumped to 35%, while retail vacancies remain stubbornly high at 22%, per DDP. What they're saying: "The fact is that you're not going to alleviate those concerns until you get more people back into offices," Ed Sealover, VP of strategic initiatives for the Colorado Chamber of Commerce, said last month on "Colorado Inside Out."
Yahoo
28-05-2025
- Business
- Yahoo
Thousands flock to 16th Street concert, raising hopes of an economic comeback
DENVER (KDVR) — Thousands of people headed for Denver's Downtown 16th Street Monday night for a concert in the newly renovated area. It was one of the first big events to be held in what many people consider the heart of downtown. Block party debuts on 16th Street as construction nears completion 'The concert just last night was incredible because it was the first time in those two years that we've seen thousands and thousands of people come back,' Downtown Denver Partnership CEO Kourtny Garrett said. The area has had a lot of challenges ever since COVID, protests and renovation projects that choked foot traffic. 16th Street is now nearly finished with a major renovation project. Nine of 13 blocks have undergone major infrastructure changes. Some people who live, work and visit there say it is an entirely new vibe. On Tuesday night, an estimated 5,000 people attended a concert on 16th Street. The Downtown Denver Partnership says it was the first big event to take place in years. One of the businesses that has seen ups and downs on the stretch is the Sportsfan. It has survived Covid, protests and major renovations that choked traffic in front of one of its stores. FOX31 learned more people are returning to the popular tourist spot. The number of people now visiting the area was not readily available. Migrating miller moths soon to fill Colorado: What they are, how to get them out of your home 'We've been seeing a much better amount of traffic. We have two stores, one down here and one five blocks up the street, and I would say, on average, we're seeing a 20 to 25% increase. It's nice to be busy when you have a sales job, and it's nice to see the community thriving a little bit more than we've seen since COVID,' Sportsfan Manager Myles Gregory said. Monday night's concert was just the beginning of what the partnership says will be a series of events to bring people back to downtown Denver. FOX31 also spotted several groups of tourists. 'We kind of came from the LoDo area, and that seemed a little bit more business-focused. But coming over here seems a lot more lively and stuff. I like how the streets have things going on in places we can explore,' Wisconsin tourist Tia Beirne said. The 16th Street kick-off to summer will take place this weekend. It will feature nine blocks of entertainment, live music and vendors. The mile-long 16th Street is expected to attract thousands of people. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
CBS News
20-05-2025
- Business
- CBS News
Denver's 16th Street Mall to be known as "16th Street" after a $175.4 million renovation
Denver's 16th Street Mall to be known as "16th Street" after a $175.4 million renovation Denver's 16th Street Mall to be known as "16th Street" after a $175.4 million renovation Denver's 16th Street Mall to be known as "16th Street" after a $175.4 million renovation Denver city leaders and the Downtown Denver Partnership celebrated the completion of 90% of the 16th Street Mall on Tuesday. "We now will describe this jewel in Denver as 16th Street," Denver Mayor Mike Johnston announced. The city has been renovating 16th Street for more than three years at an estimated cost of $175.4 million, according to the city. 16th Street stretches over a mile in downtown Denver. "This is just the start," President and CEO of the Downtown Denver Partnership Kourtny Garrett said. "Every single piece of this effort has been designed and brought to life to reflect the spirit of our city and to offer all those who experience 16th Street a welcoming world-class open space." Mayor Johnston showcases 16th Street CBS Colorado Johnston said this was not just a reopening of a street but the entire downtown. Johnston said 16th Street will also be known as The Denver Way, "which has two meanings. One, it is literally the main street of downtown, it is The Denver Way, by which you can make your way through downtown." Johnston also says you will find restaurants, diverse communities, and what he calls a connection to the outdoors, "This is the trailhead of Colorado." CBS Colorado Denver District 10 Councilman Chris Hinds said, "This is our opportunity... this is where we showcase and show off frankly what makes Denver special." There is a grand opening on Memorial Day weekend. The next weekend, on May 31 and June 1, 16th Street will host 150 vendors and 100 performers, the Skyline Beer Garden, and for the first time, 16th Street will host the IFSC World Cup of speed climbing.
Axios
17-04-2025
- Business
- Axios
New data reveals the state of downtown Denver 5 years post-pandemic
Whether downtown Denver is hurting or healing depends on who you ask — but new data shows it's doing both. Why it matters: The city's urban core is still finding its footing after COVID spurred the collapse of office culture and pedestrian life. Driving the news: The Downtown Denver Partnership this month released its 2024 report on the "State of Downtown Denver." Here's what we learned from the 40-page report: 🏢 Office vacancy hit 27%, nearly 7 points above the national average — and worse than comparable tech hubs Seattle and Austin. 🚶 Daily foot traffic remains down by 53,000 pedestrians compared with pre-pandemic levels. 👔 Return to office remains sluggish in key areas like Skyline Park, where it sits at 47% of 2019 figures. 💸 Housing remains unaffordable for many despite falling rents. A one-bedroom apartment requires an annual income of nearly $77,000, pricing out 41% of the city's residents. 🏡 Only 21% of downtown households own their homes, compared with 49% citywide. 👎 Downtown visitor satisfaction plummeted, with 55% rating their downtown experience as "great" — down from 70% in both 2021 and 2023, Gensler's Jon Gambrill said during a presentation of DDP's report. Yes, but: There are bright spots, too. 💰 Downtown pulled in $1.2 billion in investment last year, delivering 700,000 square feet of office space, more than 2,000 residential units and 265 hotel rooms. 🧑🧑🧒🧒 The area's population more than doubled since 2010, now at 33,000 residents. 📈 Growth projections exceed both metro area and statewide forecasts through 2029. 🛍️ Retail sales are climbing — up 4.7% year over year, ahead of the rest of the city. 🚨 Violent crime fell 8% year over year, and property crime dropped 9%. What's next: Mayor Mike Johnston's new safety initiative aims to expand police presence downtown to further tamp down crime, increase foot traffic, and improve people's perception of the area. Local business owners, including Jax Fish House's Dave Query — who recently told Johnston the area was "completely falling apart" — have praised the effort, BusinessDen reports.
